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KMBZ>Audio & Video on Demand>>Life As You Own It 3.29.14 Segment 3

Life As You Own It 3.29.14 Segment 3

Mar 29, 2014|

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    home loan found at 2:45

    paradigm shift here. Obviously for the past 34 decades if you're tracking interest rates on mortgages you'd notice that in general taking -- as at five every contain year. Average window of time decade over decade mortgage rates have typically. Trended lower lower lower so when moving up and home or. Refinancing your whatever has come along -- been -- the benefit at a lower interest rates usually it's is an additional motivate her for people that are looking at moving like -- you know we're. Seven and a quarter and my first home loan for example was eight and a quarter. And when I bought my is my next home I think I got seven or something so it was a huge. Different generate over just a couple of years period of time was when rates dipped down I was able to buy another home. For not a whole lot more money. Even those more expensive house because my interest was so much -- well. That's typically what we've seen. As a trend and people of enjoyed that now that might be changing so if you look at the Adam average rate of the past few years. Interest rates dip down to a record level on the low threes on a thirty year mortgage November 2012. And it took till about
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    buy houses found at 13:26

    prices rise slightly but we're just seeing in that the people wanna buy houses are continually saying you know what I can't find a house so. In my world if there's not a lot of inventory
  3. Life As You Own It 7.16.14 Segment 3

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    vending machine found at 1:55

    but to others survey that shows. Virtually everyone who lives above the poverty line has the ability to -- twenty bucks a week saving. Is a habit. And it's something that if you develop at a young age. That it can become a part if you were financial DNA so you do you have the ability to save regardless how much money you make and that's when he dollars. On if you're -- just above the poverty line is a big chunk of money that will make a difference for you if and when you needed. I'm not people that play the lottery -- chances went in the water. Sitting him lynching so -- it's getting hit by lightning. Vending machine -- the Wall Street Journal analysis 95% of gamblers Li use in the end. You gotta know when to hold them and pull them. And what went on -- -- on -- -- of -- -- said they -- well I just -- that -- half truths to -- kind of -- and the dogs vet her for buying on credit folks don't get in the habit don't use this credit cards if you pay cash in your cognizant of and you're only spending what you have and I am not as much as
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    dogs chase found at 6:08

    he wanted to circle that block a few times. -- and rabid dogs chase you down so. I drew that -- -- you -- -- all love don't fall for love at first sight drew says
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Automatically Generated Transcript (may not be 100% accurate)

All right friends we are back sweet child oh hours. We are going to wrap up. The -- that you don't show right -- But the couple more tax saving tips for you perhaps -- landmark. The animal McDougal his middle initial is K so that's the entry access rights. Animal yes and threats make sure that they're okay folks. -- we've got to got a couple more for -- number seven is right up your state and local sales tax. Yeah itemize your taxes is so -- which -- between writing after state local six income taxes or the sum total of the state and local sales taxes that you paid. In 2013. Doctors CPA to decide it. Which of these two options will give you a larger. Deduction. And number eight is the -- deduct the cost of moving to your new job if you took if you accept a new job in 2013. Congratulations. If like many Americans you might. Have needed to move more than fifty miles from your previous home and order except this new position that means the cost of moving. May be tax deductible if you drove your car for example to your new town or city you can deduct. 24 cents per mile plus parking and tolls if you flew you conduct the cost of airfare and lodging. While traveling from your former home -- one. Two other items of good news. This tax deduction is available to people who claim the standard deduction who don't itemize and it's also available to self employed individuals. Who moved to a new location to run there business and Brent one other thing that I'll mention is that it kind of reminds me of that your movement more than fifty miles is also. Most of you -- know that if you own -- home and you have a gain if you're single file single. Up to 250000. Dollars. In gain on that investments that means you bought it for 250. And you made no improvements to it and sold it for up to 500000. Dollars doesn't matter we -- on when you sell it. But you up to 500000 dollars you would pay no taxes on net gain if you're married. You could sell a sucker for up to 750000. Dollars and -- pay no taxes on the gain. Just some people get a little caught up when they're moving it from more than fifty miles for a job. -- circumstance and they think. I can't. I'm gonna wait to market my house because I won't get the full I won't I'll be taxed. -- I'll have to pay capital gains one to determine the amount to understand that it's pro rated this little piece of mortgage planner should know so fewer their. Twelve of the 24 months that means if you had a gain of 125000. Filing single or 250000. Following joint. You're good to go. Hopefully that makes sense but the bottom line is speak with a certified mortgage -- because they can educate you and you just like I don't world record on ignoring the should he stay -- should -- -- -- not so how can I stop that from -- -- -- -- -- amazing speech mother of the music was just you know it's sheer thrill kill. Eat your heart out baby okay that's right our role -- will be -- in Chicago Illinois emailed the following question. Hey guys great show. You can answer this -- all right here's my situation -- owner older home that is worth about 250000 and I only go about 40000. I was approached by a person looking for home like mine and they made an offer of 250000 dollars. I don't want him to -- your home anyway because I feel like they're rebuilding this place bit by bit all the time. Should itself at all my equity down on a new home for the lowest payments for keep a lot of the money put on a smaller down payments. -- by home in the 300 period of 50000 dollar range mark. All right stay here again go sell -- home and death. Second part is. Put a modest amount down in a payment you can afford and still have that cash reserve cushion. Working harder if you ideally in the market. That's right I agree 100% yes I do like you get one right likely mean -- you know ideals aren't folks -- -- then another fantastic insolvent at least we think. Of life as you alone if you check and is out for the first time we hope you enjoyed the show we encourage you wherever you are you can check us out. The podcast you can go to iTunes. You can really check us out -- I heart radio you can go to YouTube and you can also go to our newest. Affiliate. Radio tune in radio. So we got you covered and we hope that you tune in next weekend. Why did you -- remember to speak that -- it.

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